Monetary policy of Russia at the present historical stage: the main directions, assessment and relationship with fiscal policy

The key features of the implementation of the monetary policy of the Russian Federation at the present historical stage of development are considered, its main directions and conditions of implementation, methodological base are given. The analysis of draft regulatory documents was carried out, first of all, “The main directions of the unified state monetary policy for 2024 and the period 2025 and 2026”. A detailed analysis of the current economic situation and key decisions of the Central Bank of the Russian Federation is provided, as well as a forecast of the main trends in monetary policy in connection with the conditions of socio-economic development based on various scenario options. The relevance of the topic is due to the rapidly changing factors of the internal and external institutional environment, the search for the most optimal solutions in the field of monetary policy to ensure the sustainable development of the Russian economy and its growth, price stability and social satisfaction of the population. The Russian economy at this stage of development, having successfully coped with the flow of sanctions, is trying to find the most optimal development trajectories corresponding to the production capabilities and institutional features of the country's development. Special attention is paid to the issue of the relationship between monetary and budgetary policy of the state at the methodological and practical level. A brief overview of the current state of the budget system of the Russian Federation and the forecast of budget policy development for 2024-2026 is given. The most important directions of monetary policy development are identified, taking into account decisions in the field of budgetary policy, conclusions are drawn regarding the risks of implementing monetary and budgetary policy in 2024-2026.